Patrizia Immobilien has acquired the “Arcotel Rubin” located on Steindamm in Hamburg for a real estate ‘spezialfond’. The four-star hotel, built in 2007 features 217 guest rooms, a conference and seminar area, a gym and spa. The hotel also offers 96 underground parking spaces. The parties have agreed to keep the sales price confidential. After the acquisition of the Arcotel Camino in Stuttgart, this investment is the second hotel Patrizia has acquired from the Arcotel Group and it brings the company’s total managed assets to €300m.
